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tv   [untitled]    October 29, 2012 2:30pm-3:00pm EDT

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and we can see that currency basket this monday the russian the markets followed suit and track losses overseas and we saw both the r.t.s. and the my sides with the artist in fact about half a percent there notably gas probably the shares that were doing a little bit better throughout the day because the company announced that show oil projects that they're planning to develop in the country and also the energy a major set up plan for the production of liquefied natural gas will be built in russia's far east and blood will stop by two thousand and eighteen and the springs he's up to date in this edition of the business but do stay with us we'll continue with the economics the martin talks exclusively to political analyst and sociologist jack goldstone to hear his thoughts on how europe and the u.s. the path i should say to make sure they see financial growth once again.
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jack goldstone a us writer around sociologist specializing in many things including global population trends and also the cultural origins of economic growth it's great to have you with us here today thank you now even before the year were inception some skeptics were coming out and putting out arguments on why the euro wouldn't function and besides to economic arguments there were also saying the cultural differences were the huge problem between the different states saying that labor habits are different spending and saving practices are different and many other reasons so how much of all of this is actually playing in to the economic and political divide that we're seeing right now in the european union the euro was invented really as part of a program to overcome nationalism where nationalism is perhaps an excessive
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attachment to some of those cultural differences that you mentioned the problem with the euro i don't think lies in the cultural differences it lies in the lack of a unified institutional framework for banking and financial decision making but have has the problems with the euro now magnified to cultural differences and the problems in country cultural differences as well unfortunately when you have an economic crisis and national politicians try and find a solution it's always tempting to try and find a solution that respects the cultural differences because those are often the strongest feelings that people have in a crisis there are two ways to go with regard to the current euro crisis one is to build institutions for a european banking supervisor and a european. financial administration and european leaders are working on these the other direction to go is to emphasize the differences among european countries and
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try and tailor the way the euro functions to respond to those differences. there will be some of that because we're seeing deals with spain and with greece we saw deals with ireland and portugal all of that does respond to those feelings of cultural difference but i think in the long run the whole goal of the euro is to minimize the impact of those cultural differences on people's standard of living and on their financial environment a couple of cut questions arise right away talking a little bit more on cultural differences yes we see different european leaders work on a common solution to save the or to save the unity of the european union but still it seems so heart to find an agreement is specially if we see how germany is reacting to greece and how the u.k. is opposing the e.u. financial policies for example so is it
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a lack of trust or is it yet once again the cultural differences that really come in the way of their at finding the common solution there are cultural differences but they're not just european national differences if that was the only issue then the united states as one nation would be able to solve its policy problems by agreeing on a solution as you know the united states right now is very divided between republicans and democrats who have different ideas about how to solve our economic problems and so very little is getting done in europe germans have a belief that the way to solve the problems is by more saving and more fiscal discipline the southern european countries believe the way to go forward is to promote economic growth and not worry so much at this moment. about the debt those differences are very similar to those between american democrats and american republicans well from the latest of french president francois hollande has said
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that europe must advance at several speeds so some believe that we would be seeing the inevitable the emergence of the two tarik europe i think there is a possibility i've written about that myself at the moment the levels of productivity in different european countries are large one can compensate for that with a unified set of financial structures but then that will take time for those structures to overcome the differences the instant way to say ok we have differences in productivity let's have a marked difference in the financial system for different countries and that would require splitting the euro whether it's a two tier system or a different access system or even perhaps in some extreme cases a return to national currencies and you've been bringing up the united states a lot we are going to have presidential well we are going to have presidential
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election in the us and yes we are domestic economy very much in focus at this point and although the united states economy is exposed to europe when you look at it willy hasn't taken a toll on it as much as one would expect why is that did open obama just get plain lucky well i don't want to argue about whether obama is lucky or not there's a lot of evidence that he is unlucky and there is a lot of evidence that he has good luck we'll find out which is true when the election actually occurs but as regards the american economy the obama administration spent a lot of money on stimulus indeed if you look at net spending in the united states it has been much stronger since the onset of the recession in two thousand and seven than in most european countries european countries have been lit. thing according to their belief in austerity so they have reduced government spending and they have raised taxes the united states was not able to raise taxes and did
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increase government spending now there's an argument about which is the best approach to restore growth i really believe what the american experience shows is that you shouldn't raise taxes during a recession you should increase government spending and the reason european countries have had greater trouble is they have done what i think shouldn't be done they followed a austerity policy before the recession was over i remember president obama got a great deal of criticism in the very beginning when he actually went for the stimulus packages and for the injection of stimulus and to the american economy but then again and it worked out like you said it worked out better than it did in europe but then again can the measures that are taken to. fix the american economy be taken in hero ken going to say measures to fix you up as well or you do what you do need to have different approaches because it is two different things still there
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are different things europe essentially has a double problem they have how do we get southern european and northern european economies to move in the same direction and for that i think the answer is don't pursue austerity pursue growth and then there's a second problem of once countries are all moving in the same direction can you fix the european financial system and create united structures so that this problem doesn't appear again as it may appear in the next economic difficulty if the current division among national financial systems isn't isn't fixed as the author of the over book on global population trends you have argued that the most important thing is really the distribution of population now that the rich economies are really out of steam and the globe. economic crisis god knows how long it will stay around will these sick commie sexual be capable of absorbing. even new
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scores of immigrants as they were for the last century well i think there's a third adjustment that europe has to make aside from responding to the existing crisis and improving the unity of financial structure and that is europe has to adjust to the reality of zero population growth. europe after all was the fastest growing part of the world for much of the nineteenth century and even into the twentieth century and yet we're looking at a twenty first century in which most european countries will have very little or no population growth that means the structure of welfare health care pensions housing all is going to have to change now i am seeing very hopeful signs in many european countries that they recognize becoming more open to immigration and doing a better job of integrating the recent immigrants that they already have are going
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to be very important for restoring economic growth so i don't think there's a choice there i just think it's a question of how soon does europe accept the reality that its population needs to be supported by immigration and that that's going to provide more of a benefit not a threat keeping in mind everything that you've said and if i would think by your scenario. and america's still today being the best places on earth to leave according to living standards. will they be america and europe be able to sustain their living standards like they are today i think they'll be able to sustain them to a good degree because they have the technology and the capital but it will take sensible economic policies if europe and the us continue to spend way too much on public benefits like pensions and don't pay enough attention to research and
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education to raise the productivity of future workers then things will decline so there is the risk that we got it wrong on the other hand there's no reason that european and american people and companies won't profit from the growth that takes place in places like china and india it's already a global economy so i think the prospects are good but let me also. even though places like shanghai or mumbai may not be as rich as london or paris they have their own attractions being at the center of something new and exciting and growing fast can be just as attractive as being in a place like zurich that has a lot of old but stable well jack thank you very much pleasure to be here thank you very much. it sounds like a dragon crashing through the forest but it is in fact technology versus trees and
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would you believe it this machine can fall and strip hundreds of them each day when building this facility we wanted to use advanced technology that would increase efficiency and allow us not to use manual labor also this provides for better quality goods as a result we were able to conquer western markets the demand for korea birchwood is high since our production line is quite efficient where i will to work for hard wages to our employees the trunks end up here where they turned into planks which branch off to all manner of uses greenies would export a march but not all of it goes with gold. here in the museum island of traditional methods they used to build and maintain churches and dwellings dating back hundreds of years in this whole what. reaches possible complexity these planks are about to become part of something which exemplifies the
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combination of tradition and technology. here at the valley and all viking boat makers what is fashioned into their souls new and old they range from small private boats to replicas used in the historical t.v. series of. my books are all special they're like children sue me. we have to design them and build them from scratch it's always sad when we have to part ways every time they sail away while we remain at the dock and pavel gets much of his timber from karena same customers pine for its high quality wood. which brings us up to the first six million cubic metres of wood is cut down in careers forests every year that goes to make everything from farmhouses to follow what i'm withdrawing is proximity to europe on the baltic it's big forests big business.
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as a hedge. phone watches show every single mom and waiting for you to stumble. i saw a man with a video camera so i moved over and she followed me. you know we realized they were following everyone from early in the morning. the only chance to get rid of him. is to reveal him. to me. on our cheating.
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top stories this author has billions in corporate donations make the u.s. presidential campaign the most expensive ever so americans believe the. they elect wall street will be the winner. russia's foreign minister itself with international powers for refusing to negotiate with the sides in the syrian conflict saying talking to a sad is the only way to stop the bloodshed. nor to my backyard plans to build a lot of the new mega malls protested word coming development is they need to radicalize local muslims. or those stories in fifteen minutes from now in the meantime sports next with kate.
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and i welcome to the monday sport roundup and these other headlines top gong little messi is awarded his second golden boot in three years after scoring fifty goals for barcelona last season and is a favorite for the balance door. wall rectories reports it's the english f.a. begin an investigation after chelsea lodge a complaint against the official in sunday's three two defeat against manchester united. on the giant steps on francisco when baseball's world series for the second time in three years with a four nil sweep of the detroit tigers. as to football in argentina star little messi has landed yet another accolade as the boss alone a striker received the golden boot after finishing last season as the league's top scorer in europe it's the twenty five year old second such awarding three years after the strike to set a new legal record of fifty goals for more than round madrid rival cristiana right
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now though he's picked up the prize last year both of being named on the twenty three man list in contention fifty fifth ballon d'or for the best player of the year a title messi has been holding for three years but the humble maestro believes he couldn't tell one his latest on a alone. because you get cause this is a team award every time i win something individually i see the same thing because it's logical and for this or no more than anything else it's an award for scoring goals and without my teammates i wouldn't have scored any. well meanwhile in england the football association has begun an investigation after chelsea complained referee mark clattenburg used inappropriate language to tear their players during sunday's controversial three two defeat at home to manchester united the players reportedly thought his comments contained racial overtones well the blues had come back from two goals down to be level two two and then all for now have run us other than if it were sent off for bringing down ashley young and soon after fernando torres picked up his second yellow card for supposedly to leaving
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then it's fifteen minutes to go substitute at the end on this score united's went out although he appeared to be offside to see united go second in the table one point behind chelsea well in the meantime the russian football union have admitted the referee made a mistake which on champions a need to snatch a late winner after coming from two goals down to win three two as a lot here on saturday the two two in the eighty eighth minute a free kick was awarded to the home side and the defender kicked the ball up the field for it to be right ok referee that again because that's not thought it was in play competent here young not intercepted past the others of the current going to strike home the goal stuart and one to go thirty three points off the top spot third bottom line here remain two points off the drop zone. well meanwhile on sunday tesco coach limits lecky praised his team second half performance after the army men went top of the russian premier league after coming from behind to win two one after a brazilian i also thought the chechen side ahead after beating people he got back
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in favor of to the near post just eight bits. out the city honed in across off the level matters made way to the first half. and then with just two. it's to go pontus vernon bloom headed home to finish up a free kick by fellow swede rosmah sell the argument went to the point clear at the top faltering state force. but resigned he dropped to second and saw their seven game winning streak comes when abrupt end opportunity to regain the house i took a full suite lead to i was mean but with the equalize courtesy of top scorer at the scene a try or a as the gentle giant nicked the seventh goal of the campaign. however i guess i've made it to want to be with a cracker from just outside the box after twenty minutes to what is how it stays down so i rose to settle. ken is now and serena williams how do i pass maria
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sharapova to win the season ending w t a championship for the third time without stretching a set in istanbul we didn't face a single breakpoint smocking forty winners and eleven aces on her way to a six four six three victory well the win concludes an impressive second half of the season for the world number three after losing in the first round of the french open williams went on to win wimbledon then a limpid gold and then the us open and she finishes the year behind her up with alice world number three after dropping out of the top one hundred and overcoming a life threatening blood clots in her lungs last season. was important email is just another step in my career. stuff so just like is what i wanted to do it was money go you know she certainly played a really consistent today and served really wouldn't get a chance to see a breakpoint today. but you know overall if there's a few you know little moments where it could have you know found myself back in the
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match and and then she served extremely well and took those opportunities away but overall it's been a great week for me in the meantime involved juan martin del potro became top ranked roger federer in a street set thriller to claim the swiss indoors title federal was aiming to win. his home event for a sixth time in seven is and was broken just once in the opening set but still lost than six four six seven seven six after almost three hours on the court federal has also chose not to defend his paris moss' title this week ensuring novak djokovic will finish the year as well number one. now into baseball of the san francisco giants clinched their second world series title in three years as they wanted for three at the detroit tigers to complete a four nil sweep in the best of seven series but their teams were tied at three apiece at the end of the regulation nine innings but it was the giants who clinch the winning score in the extra tenth ryan thirty out hit a single to right field and advance to second base on brandon profit sacrifice for
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racing home on the chart singles by marcus for tara to make it four three to the giants then the closing pitch as i go around my talk to the man who struck out miguel cabrera to seal a victory in the club's sevens all time world series crown. you know for us to play like we did against this great club i couldn't be prouder of these guys again and you know to be world champions and to have out of the last three years it's amazing i believe me i know it difficult because you get here and i could be prouder of a group of guys that we're not. going to be denied and. now rory mcilroy has avenge his recent world goal final defeat to tiger woods after the world number one beat the second ranked american by a single shot an exhibition jewel in china the world's top two players locked horns over eighteen holes with michael were probably in the better form after coming up just short of the shanghai lost his title on sunday and the northern irishman led by three shots opted to go on the open three phones while the twenty three year old
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never try although after being greeted by a model on the twelfth tee was chipped in for an important birdie but a couple of fogies later on ruined the days of the fourteen time major winner as woods needed to hold back. the birdie from the bunker on the final hole. just missed and michael roy tapped in for paul to secure a five and apollo round of sixty seven. point zero point five good tiger made a few birdies on the back nine and i just tried to keep my nose in front and you know was he able to do that was the word exhibition i think everyone here enjoyed it and you know their want to came out and hopefully they had a bunch of fun watching us you know play you know some persian gulf that. and finally winter is only just beginning here in russia but i knew also i was in competition was held this weekend at an all season alpine skiing venue in the moscow region. as a whole. russia is
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a country covered with snow for almost half the year but you can also find many snowboard infuses here during the other half and this indoor alpine skiing venue was recently the place for it being contests where competitors stickle there is obstacles. for some snowboard addicts the prospect of a round here when say is not a nightmare but a dream come true and here their dream becomes a reality as this is their day i was going to hold their tricks on the verge of a shoulder slope three hundred sixty five days a year. however for in a man such as a jeep competition a relatively small amount of snow is required as snowboarders gain speed on a slope and like an old skateboarding influenced sports jump and slide all with different barriers and before uncomplicated tricks. a beauty of that but it's
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almost every amateur dreams of becoming a pro the price of snowboarding equipment for the whole year is up for grabs here and after that cheer for snowboarder is good enough he'll sign a professional contract their own the hundred amateur boarders gathered to battle for that top prize and showed off their best breathtaking and jaw dropping tricks on the rail to impress the judges. and that i didn't expect to win but i'm happy i did hopefully during this year i'll produce my best and sign a pro contract it's hard to earn money in snowboarding in this country but if you perform on a solid level you can get a contract elsewhere there are still only a few professional snowboarders in russia but such is. bands could perhaps help inspire youngsters to turn a hobby into a living. from
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sending back up of our teeth. and that's all that's all that is monday by. you know how sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything you thought you knew you don't know i'm tom harpur welcome to the big picture. download the official application to cellphone choose your language stream quality and enjoy your favorites from alzheimer's t.v. is not required to watch on t.v.
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